Washington DC - February 26 - The Federal Housing Finance Agency reported that the average interest rate on conventional 30-year, fixed-rate, mortgage loans increased 5 basis points to 5.10 percent in January.  The average interest rate on 15- year, fixed-rate loans remained unchanged at 4.54 percent in January.

To read the entire report, CLICK HERE

Washington DC - February 22 - The Federal Reserve Board launched a new interactive website to help consumers better understand the new credit card protections that take effect on February 22, banning several harmful practices and requiring greater transparency in the disclosure of the terms and conditions of credit card accounts.

To read the entire report, CLICK HERE

Washington DC - February 17 - The Credit CARD Act of 2009, with major provisions taking effect this month, will save American cardholders billions of dollars by banning unfair or deceptive practices, according to research from the Pew Safe Credit Cards Project.

To read the entire report, CLICK HERE

Washington DC - February 11 - The U.S. Department of the Treasury released the following statement from Secretary Geithner marking one year of the Financial Stability Plan and its effect on the economy.

To read the full statement, CLICK HERE

Washington DC - February 10 - A recent survey commissioned by the Consumer Federation of America and Credit Union National Association revealed that, while most consumers (61%) are aware there are new credit card protections, most (65%) don’t know they take effect later this month and don’t understand the specific protections Congress approved last year.

To read the entire report, CLICK HERE

Washington DC - February 9 - Reiterating once again his commitment to small business as the engine of our economy, in his Weekly Address the President urges Congress to move forward immediately on steps to help them expand and create jobs.

To view President Obama’s Weekly Address, CLICK HERE

Washington DC - February 5 - The Federal Trade Commission moved to protect distressed homeowners from bogus foreclosure rescue and mortgage modification services by proposing a new rule that would forbid companies to charge up-front for these services.

To read the entire report, CLICK HERE

Washington DC - February 3 - President Barack Obama outlined the new Small Business Lending Fund, which will transfer $30 billion from the Troubled Asset Relief Program to a new program that will support small business lending.

To read the entire report, CLICK HERE

Washington DC - January 27 - The Federal Housing Finance Agency reported that the average interest rate on conventional 30-year, fixed-rate, mortgage loans of $417,000 or less decreased 4 basis points to 5.05 percent in December.

To read the entire report, CLICK HERE

Washington DC -January 13 - The Federal Reserve Board approved a final rule amending Regulation Z (Truth in Lending) to protect consumers who use credit cards from a number of costly practices. Credit card issuers must comply with most aspects of the rule beginning on February 22.

To read the entire report, CLICK HERE

Washington DC - December 7- Although the economic stress faced by many families and businesses remains intense, with job openings scarce and credit still hard to come by, the financial system and the economy have moved back from the brink of collapse, economic growth has returned, and the signs of recovery have become more widespread, Federal Reserve Chairman Ben Bernanke said in a speech today to the Washington Economic Club.

To read the transcript of Bernanke’s remarks, CLICK HERE

Washington DC - December 3 - Senator Herb Kohl (D-WI) introduced the Safe Affordable Loan Act to help increase low and moderate income Americans’ access to mainstream financial institutions as an alternative to pay day lenders.

To read the entire report, CLICK HERE

Washington DC - December 1 - The U.S. Department of the Treasury and Department of Housing and Urban Development (HUD) kick off a nationwide campaign to help borrowers who are currently in the trial phase of their modified mortgages under the Obama Administration’s Home Affordable Modification Program (HAMP) convert to permanent modifications.

To read the entire report, CLICK HERE

Washington DC - December 1 - The Federal Housing Administration (FHA) proposed new regulations to increase the net worth requirements of FHA-approved lenders, strengthen lender approval criteria, and make lenders liable for the practices of their correspondent mortgage brokers.

To read the entire report, CLICK HERE

Washington DC - November 25 - The Federal Housing Finance Agency reported that the average interest rate on conventional 30-year, fixed-rate, mortgage loans of $417,000 or less decreased 13 basis points to 5.10 percent in October.

To read the entire report, CLICK HERE